GBCA partners with GRESB

GBCA partners with GRESBThe Green Building Council of Australia has formed a partnership with GRESB to advance reporting on environmental, social and economic performance in Australia’s real estate sector.GRESB assesses the sustainability performance of real estate portfolios (public, private and direct) globally. In Australia, about 44 companies and funds (with a gross asset value of $131 billion) use GRESB benchmark results throughout the investment management and engagement process with a view to optimising the risk/return profile of their real estate investments.Green Building Council of Australia (GBCA) CEO Romilly Madew said investors require reliable data on energy efficiency and sustainability to help inform their decision-making. “GBCA is determined to play a role in the global discussion around benchmarking on behalf of its members, and to ensure Australia maintains its position as a global leader in sustainability,” she said.”This new partnership will provide GBCA members with more value, and ensure they are part of the conversation about the future of sustainability benchmarking in Australia and around the world.”GRESB’s head of Asia-Pacific, Ruben Langbroek, said green building certification programs have been institutionalised in the real estate market.”This trend of increasing transparency and enhanced sustainability performance at the asset level will meet investors’ need for reliable, investment grade data on sustainability,” he said.”Reporting on sustainability performance at the portfolio and asset level will increase the speed with which sustainability best practices diffuse into the global real estate industry. This will enhance and protect the value of real estate investments, and ultimately contribute to a more efficient and more sustainable built environment,” he added.